Sixth review to be presented to IMF board on January 12: finance ministry

IMF warns of ‘economic collapse’ unless G20 extends debt relief

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Washington: The International Monetary Fund on Thursday urged advanced economies in the G20 to expand and improve their debt relief initiatives, warning that many countries face terrible crises without help.

“We may see economic collapse in some countries unless G20 creditors agree to accelerate debt restructurings and suspend debt service while the restructurings are being negotiated,” IMF chief Kristalina Georgieva said in a blog, adding that it is critical private creditors also offer relief.

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